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Brentwood Associates
| founder = Frederick Warren, Timothy M. Pennington III, B. Kipling Hagopian | location = Los Angeles, United States | industry = Private equity | products = Leveraged buyout, Venture capital | homepage = | num_employees = }} Brentwood Associates is one of the oldest private equity firms in the US with groups focusing on both leveraged buyout and venture capital investments. The firm, which is based in Los Angeles, was founded in 1972. The firm has raised approximately $2.3 billion since inception across 13 funds. The firm's leveraged buyout business raised approximately $1.4 billion across four funds, the earliest of which was raised with $140 million of commitments in 1990.New Buyout Fund Set by Brentwood. New York Times, May 5, 1989 The venture capital group raised over $900 million across nine funds, the earliest of which was formed in 1980 and the last of which was raised in 1998, prior to the spinout of the firm's venture business. History Brentwood was founded by Frederick Warren,Frederick Warren. Zoominfo profile Timothy M. Pennington IIISky diving into venture capital risks. Los Angeles Business Journal, Feb 19, 1990 and B. Kipling HagopianB. Kipling Hagopian. Forbes Profile Leading investor in start up companies in the late 1990s. Raised a $300 million venture fund in 1998. Brentwood Venture Capital was founded in 1972 as Brentwood Associates. Over the last 26 years, Brentwood has grown to be one of the oldest and largest firms in the venture capital industry, having raised over $1 billion in capital and investing in over 300 entrepreneurial companiesBrentwood Venture Capital Closes $300 Million Fund. November 9, 1998 In 1999, the partners from Brentwood joined with partners from Institutional Venture Partners (IVP) and Crosspoint Ventures and created two separate industry-focused firms with the relevant firm making new investments in each of the respective industries: * Redpoint Ventures, focusing on early stage information technology investmentsThe gods of capitalism: Redpoint Ventures explains why making five times your money isn't enough. CNN Money, August 29, 2000 * Versant Ventures, focused on health care venture investments In 1999, Redpoint raised a $600 million venture fund Ventures I, at the time the largest first-time fund for a new firm.REDPOINT VENTURES CLOSES $600 MILLION FUND, New Firm Raises Largest First Fund Ever. November 8, 1999 Investments Since inception in 1972, Brentwood has invested in more than 40 companies across a wide array of industries. It has over $650 million of assets under management and usually invests between $20 million and $200 million in each portfolio company. The firm's leveraged buyout practice has focused on acquiring more mature businesses, while its venture capital group has invested in earlier stage, startup companies. Buyout investments The firm's leveraged buyout practice has completed more than 30 acquisitions. Among the most notable companies in which Brentwood has invested include: Ariat, Oriental Trading Company,Brentwood Associates to sell Oriental Trading Company to Carlyle . June 14, 2006 Bell Sports,BELL SPORTS AGREES TO BE BOUGHT BY HB ACQUISITION. New York Times, February 18, 1998 Bell Automotive, Prince Sports,A 2d Pond's Unit Is Sold in a Month (Prince). New York Times, June 16, 1987 C.C. Filson,Brentwood Associates partners to buy Seattle garment maker. Los Angeles Business, January 24, 2005 Graphic Controls Corporation,BRENTWOOD ASSOCIATES REPORTEDLY TO SELL COMPANY. New York Times, July 27, 1995 The Teaching Company,"Berkery, Noyes & Co. represents The Teaching Company in its sale to Brentwood Associates" , October 3, 2006. Stanley Works, and Zumiez.Zumiez Gets Investor To Help Growth. Transworld Snowboarding, November 5, 2002 In 2007, Brentwood Associates bought a controlling stake in Zoës Kitchen. In April 2014, Zoës Kitchen's IPO offering raised $87.5 millon. In July 2013, Brentwood Associates acquired Lazy Dog Restaurant & Bar. In 2014, Brentwood acquired Marshall Retail Group in August and Z Gallerie in October. Venture capital investments Brentwood's venture group, prior to its spinout separation in 1999, was among the most prominent investment firms in the 1990s Internet boom. Among the firm's most notable investments in software and internet businesses during this period included: Wellfleet Communications, Xylan, Documentum, ISOCOR, WebTV Networks and Freegate. After 1999, investments in the internet and information technology sectors were made by Redpoint Ventures. Brentwood also had a long history of investing in health care companies with strategically important products or services. Today, the vast majority of Brentwood's successful healthcare investments have been acquired by and integrated into larger healthcare companies including Baxter Healthcare and Medtronic. Among Brentwood's most notable investments included Keravision, Aradigm, Webster Laboratories and Interflo Medical. References External links *Brentwood Associates (company website) Category:Private equity firms of the United States Category:Venture capital firms of the United States Category:Financial services companies based in California Category:Companies based in Los Angeles Category:Financial services companies established in 1972 Category:1972 establishments in California